Agbaje: e-Tax System Will Reduce Fraud in Tax Payment

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By Obinna Chima

The Managing Director of Guaranty Trust Bank Plc (GTBank), Mr. Segun Agbaje has said the introduction of electronic tax payment system will help reduce corruption in tax payment system, just as he urged other states to embrace the initiative.

Agbaje made this remark during the inauguration of the e-tax payment campaign by the Lagos State Governor, Mr. Akinwunmi Ambode at GTBank Opebi branch, Lagos recently.

The GTBank explained in a statement: “The e-tax payment campaign has shown the premium placed on electronic payment by the Lagos State Government and this would equally aid the financial inclusion programme of the Central Bank of Nigeria.”

The GTBANK MD noted that the elimination of middlemen in the tax payment structure would enable the government derive immediate value for all tax remittances.

“GTBank is willing to support the government in the collection of all the different taxes payable to the Lagos state government.

“The various forms of taxes and revenues that can be paid at all GTBank branches across the state include Pay as You Earn; Witholding Tax; Land use Charges; Direct Assessment; Development Levy & Business Premise.

“Others are Tax Audit; Stamp duties; Land Charges; Consent fees; Capital Gains Tax; Survey fees; Registration & Conveyancing fees,” a statement quoted Agbaje to have said.

On his part, Ambode said the initiative would allow residents and citizens of Lagos state to pay their taxes directly to the coffers of the state government.

The governor noted that the noble effort was implemented so as to help tax payers make direct deposits to government coffers seamlessly.

According to him, “The process in the payment of taxes have been simplified for the residents and citizens of Lagos State who are the direct beneficiaries of the productive utilisation of taxes in the state.

“All the projects that have either been completed since the commencement of my administration or those that are underway have been done through taxes,” he added.